Victory Capital Management Inc. lessened its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 492,459 shares of the bank's stock after selling 9,941 shares during the quarter. Victory Capital Management Inc. owned 1.04% of Bank of N.T. Butterfield & Son worth $19,167,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC raised its position in shares of Bank of N.T. Butterfield & Son by 29.2% during the 1st quarter. CWM LLC now owns 15,000 shares of the bank's stock worth $584,000 after acquiring an additional 3,388 shares in the last quarter. Cerity Partners LLC raised its position in shares of Bank of N.T. Butterfield & Son by 64.7% during the 1st quarter. Cerity Partners LLC now owns 14,322 shares of the bank's stock worth $557,000 after acquiring an additional 5,626 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Bank of N.T. Butterfield & Son by 885.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the bank's stock worth $269,000 after acquiring an additional 6,200 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Bank of N.T. Butterfield & Son by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 130,408 shares of the bank's stock worth $4,923,000 after acquiring an additional 2,253 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Bank of N.T. Butterfield & Son by 9.6% during the 1st quarter. Principal Financial Group Inc. now owns 34,350 shares of the bank's stock worth $1,337,000 after acquiring an additional 3,008 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NTB. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 price target (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th.
Get Our Latest Stock Report on NTB
Bank of N.T. Butterfield & Son Stock Performance
Shares of NYSE:NTB traded down $0.06 during trading on Friday, reaching $44.28. The company had a trading volume of 123,285 shares, compared to its average volume of 155,046. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.19 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65. The stock's fifty day moving average price is $43.98 and its 200 day moving average price is $40.30. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $33.04 and a fifty-two week high of $46.89.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.27. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. As a group, equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.
About Bank of N.T. Butterfield & Son
(
Free Report)
The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.
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